Hindenburg SEBI Row on Adani Group | UPSC Current Affairs 2024

Adani Group stocks fell up to 7% after US-based Hindenburg Research claimed that SEBI chief Madhabi Puri Buch (and her husband Dhaval Buch) had stakes in offshore funds based in Bermuda and Mauritius.
The report claimed these funds were used by Gautam Adani's brother Vinod Adani to acquire and trade significant shares in the Adani Group.

Although, both SEBI and Madhabi Puri Buch have strongly refuted these allegations. But, the allegation raises some serious questions on SEBI’s credibility and its impact on the stock market.

What is Hindenburg and how does it make money?
Founded in 2017 by Nathan Anderson, Hindenburg uses financial forensic tools to find potential accounting irregularities and other corporate governance-related issues in mostly high-profile companies.
Hindenburg's business model is simple - it shares the report with its clients in advance as they benefit by taking short positions in the targeted companies well before the report is out in the public domain.

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[nextias]

In the light of Adani-Hindenburg controversy, how should India balance economic growth with corporate transparency?
Let us know your thoughts in the comment section down below! 👇

[harpreetrajsingh]

All top political leaders, DIIs and FIIs who shorted the Indian stock market on Friday and Monday morning should be investigated for treason against India and India's common public who have invested their hard earned savings into the country's economy. These culprits should be thoroughly investigated for treason by checking their laptops/mobiles emails for these two days for the extent of knowledge of Hindenburg report they had prior to public which allowed them to short the Indian market to profit from people's money. And anyone found guilty should be punished for good pl.

The law of the land should ensure such a crisis which holds the whole public hostage for a weekend does not ever happen again in any shape or form. It cannot be said how many heart attacks would this event have caused among the elderly public of India as it can never be studied.